Is Silver next?

[djeinpoco]

Please keep in mind much has changed over the years. Bitcoin is now moving in on metals as "a safe haven" reserve. The old rules of finance are being tested in the digitized world. I don't know how that will play out, but I aint buying the story or the Bitcoins.

The two things I'm currently looking at is the oil/gold ratio which is still too high, the other is the silver/gold ratio which also is high but dropping. I've been stacking for 20 years. I will trade silver for gold when ratio is around 40:1 from it's present 66:1, or sell the silver high and buy reale state, or sit on it.

One bit of advice I heard long ago from an Italian woman being interviewd on how her old Italian family managed to keep its wealth for centuries. She said they traded gold for real estate or art as the markets and political climate (think WWI and WWII) changed.

She never mentioned fiat currencies or businesses. Just gold, art and real estate. I feel comfortable with that enough to bet my future on it. And remember guns are art and ammo is now a precious metal!

 

[DoggyDaddy]

Silver has been hovering around $25 all day. Not sure what to do with that information though. I did buy some more rounds yesterday.

 

[snorko]

Silver has been hovering around $25 all day. Not sure what to do with that information though.

I am still not overjoyed with the 20%+premiums. But now that the gold/silver ration is back up (69:1) I think I will go back to a disciplined moderate monthly purchase of whatever is cheapest for a while.

I think it is weirds how there is so little break for larger units. Time was 1oz rounds were noticeably higher per ounce than 10oz bars. I just checked Provident. If you ordered ten ounces it still holds, barely. But order twenty and the rounds are cheaper. Something to consider as a 1oz rounds give you more flexibility in selling if needed than a 10oz bar.

 

[DoggyDaddy]

I am still not overjoyed with the 20%+premiums. But now that the gold/silver ration is back up (69:1) I think I will go back to a disciplined moderate monthly purchase of whatever is cheapest for a while.

I think it is weirds how there is so little break for larger units. Time was 1oz rounds were noticeably higher per ounce than 10oz bars. I just checked Provident. If you ordered ten ounces it still holds, barely. But order twenty and the rounds are cheaper. Something to consider as a 1oz rounds give you more flexibility in selling if needed than a 10oz bar.

Yeah, that's why I've been sticking with rounds for the most part, although I did pick up a few 1 oz. bars from another INGOer in trade for a rifle. I just wish that the price of rounds would be more sensitive to fluctuations in the spot price. When the price stays steady for buying them, in effect all you're doing is increasing the premium over spot by buying when the spot price is low. Or that's how it seems to me anyhow.

 

[Tyler-The-Piker]

10 oz Mason Mint Silver Bar .999 Fine

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[spencer rifle]

I have some issues with Gainesville. They require a bank wire ( our bank charges $40) and you pay for shipping. Might be cheaper to use a credit card.

 

[DoggyDaddy]

I have some issues with Gainesville. They require a bank wire ( our bank charges $40) and you pay for shipping. Might be cheaper to use a credit card.

I've just written them two paper checks when I've ordered from them. Which reminds me, I need to buy stamps.

 

[DoggyDaddy]

View attachment 132519

10 oz Mason Mint Silver Bar .999 Fine

Great Deals On 10 oz Mason Mint Silver Bar .999 Fine At Gainesville Coins. Securely Buy Gold And Silver Online.

www.gainesvillecoins.com

Comes out to $300.30 with shipping. $4.62 over spot as of this morning.

 

[DoggyDaddy]

I need to chill on buying for a minute. Writing all these checks and waiting for them to clear is making balancing the checkbook a pain in the butt.

 

[flyingsquirrel]

Me, I'm not buying at $25+. The time to buy was at -$15.

 

[djeinpoco]

Besides my wife still in California I don't miss much, except the Oakland Gold and Silver coin shop where I bought silver. I could walk there on my lunch hour and buy silver. They post their prices on their website. It was easy. I trusted them from years of partonizing their business,

Now I'm in Michiana and have to drive to coin shops that I don't know or trust. Sigh....

Anyone here up north reccomend any local dealers? I am not inrterested in mail order. I can fit the dirve to buy into my other travels to mitigate cost.

 

[MindfulMan]

Once I started looking at some precious metal websites, the ads started jumping onto my computer ... and of course I had to check them out.

I'm surely the worst investor ever .... as I think that I paid about $ 6.25 over spot, and paid the penalty charge for using Paypal (so convenient). But that's OK.
I just had to have a few of these silver rounds, as I was drawn to the design, and motto.

I've now dipped my (little) toe into the water !

Thanks to the true investors who've contributed their knowledge to this thread.
I've enjoyed the education .... very interesting stuff !

 

[DadSmith]

So you have say 100oz of silver. Silver goes up to say $60 an oz. How do you sell the silver you own and get the going price? Where do you take it to get said price?

 

[2in1evtime]

Haven't bought any silver in the last 5 years, bought lots in the 80's til 2016. Have been buying some gold though. I was shocked at what they have been charging over spot, i think the last 1,000 ounces i bought was .59 over spot. We have thought of selling some off, and may if it jumps up to 40.00 a ounce like a few years ago. If i knew what i know now i would have bought a heck of a lot more years ago though!!

 

[Tyler-The-Piker]

So you have say 100oz of silver. Silver goes up to say $60 an oz. How do you sell the silver you own and get the going price? Where do you take it to get said price?

You can sell it back to online dealers like Apmex, Provident, etc or a local coin/jewelry shop or private sales like here on INGO. It's going to be like selling a gun to a LGS...they need a profit margin so they'll give you less than current spot/rates.

(say your avg cost per ounce is approx $35 and you want to sell when silver gets to $60oz, then when the dealer offers you $56oz sure it's less than the $60oz rate but more than your cost of $35)

 

[snorko]

You can sell it back to online dealers like Apmex, Provident, etc or a local coin/jewelry shop or private sales like here on INGO. It's going to be like selling a gun to a LGS...they need a profit margin so they'll give you less than current spot/rates.

(say your avg cost per ounce is approx $35 and you want to sell when silver gets to $60oz, then when the dealer offers you $56oz sure it's less than the $60oz rate but more than your cost of $35)

I think of silver both as another savings account for cash and as a kinda-sorta investment. I deal mostly with Provident. They list the "buy back" price with a lot of their products. So while resale is not my prime factor when buying silver, I do take into account what the "buy back" price is. Quality bars and sovereign rounds are typically above spot and has floated up as prices increased in the past.

 

[Tyler-The-Piker]

Buckle Up.

 

[DoggyDaddy]

Down to 24.78 as of now on kitco.

 

[DoggyDaddy]

 

[snorko]

Here is a deal at Provident for those interested. 250 gram (8.0375 oz) Sovereign silver bars for currently $29.17/oz. At tis same time 1oz rounds were $30.47/oz and 10oz bars $30.70/oz.

2021 St. Helena Rectangular East India Company Silver Coin - Provident Metals™

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